Photo Credit: opel_sport_wagon via Compfight cc  We haven't seen any houses that look like this in LA, but it's certainly an interesting looking one!

Photo Credit: opel_sport_wagon via Compfight cc
We haven’t seen any houses that look like this in LA, but it’s certainly an interesting looking one!

A few weeks ago I wrote about how we’re almost to the point of house hunting and now I can say we’re in full-swing house hunting mode! In a span of three weeks we’ve connected with a real estate agent, gotten a pre-approval letter, viewed five houses, and even put an offer on one! I don’t know if things are supposed to happen so fast and I never thought we would be putting an offer on a house so soon. Here’s how it all went down though.

On our first weekend we wanted to meet our real estate agent and look at some houses to start the search. We definitely weren’t expecting much and just wanted to start learning about how to look at houses to see potential. The first house we saw was amazing and fully renovated! The nicest house we’ve ever seen in our price range. The second was a fixer upper with mostly cosmetic work. The third was liveable but would need work sooner than later. It was a good experience but we didn’t think anything other than that.

Two weeks later the first house is still active. We checked with our real estate agent and there were multiple offers and counters. We had both really liked the house but had thought that there was no way we could win a bidding war. This house turned out to be worth much higher than list price but was listed lower for a quick sell. The seller’s agent was unresponsive and didn’t get back to our agent at all to tell her what a reasonable solid bid would be. In the end we decided to put our highest final bid out and take the chance. Most likely it will sell for much higher than we could afford but at least we tried for it! We’ll find out officially in the next day or so.

Buying a house isn’t a simple thing and already it’s been a bit crazy. There are a few things we made sure to do so that we could be as prepared as possible though.

Do your research
Both of us has done research on how everything works. We are in no way experts on the subject but it’s much better than just going in blindly without any knowledge. There’s only so much we can learn by reading though so a lot will have to be through experience!

Find people you can trust and have accountability
For our real estate agent we chose someone with a good reputation who really truly cares about doing a good job. She replies back with a phone call, email, or text within minutes and encourages us to ask questions. She keeps us in the loop and is an extremely easy person to be with. All very important things when dealing with such a large purchase. We got a pre-approval from a lender that has worked with many of our family members. Referrals are very important and she has more incentive to help us since we’re connected by many others.

Communication
My husband and I have been constantly discussing everything. We’re buying the house together so both of us must agree on everything we do. While smaller decisions can be deferred to one person at times, this is an important one that we have to do together. We each have our own opinions but there’s not much compromise that can be made on this. If one person doesn’t like a house then of course we won’t try to buy it.

 

This is just the start of everything! It’s pretty exciting and it was never-wracking yesterday trying to figure out if we should put in an offer or not. We didn’t really expect to get the house but if we didn’t put in an offer we would never know. Sometimes you just have to take risks and go for it!

 


2 Comments

  1. Posted October 11, 2013 at 6:50 am | Permalink

    I can’t imagine buying a house. It is such a huge financial commitment (that I cannot afford). Someday I hope. I LOVE watching all the House Hunters though and reading stories like yours. Best of luck!
    Stefanie @ The Broke and Beautiful Life recently posted…My Money MotivatorsMy Profile

    • TeenyGreen
      Posted October 11, 2013 at 10:06 am | Permalink

      Thanks for the good luck Stefanie! Hopefully we won’t need it but it’s such big process we probably will. I love watching that show also! Somehow they always manage to pick people with extremely high unrealistic expectations though!

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